Bottom is in.
Nearly 1M position, brought my position average all the way from 309-279. Happy to rest it here.
Letโs ride.
See you guys on the other side.
$UNH
Rolled my 125 P to an extreme conservative 115 2 weeks out. Plan was to sell aggressive CCs at 125 but price action unforgiving
Swing and a miss on this but should be able to come out of this alive in a couple weeks.
$LULU
@RolfOptions Rather conservative. I sell weekly contracts utilizing about 800-1M notional and generate 8-10k/week. 100k should generate at least 700-800/wk otherwise itโd likely be more beneficial to just put money in an index.
Selling the 125Ps expiring 5/15 on $LULU. Wildly oversold here on the daily RSI, should have local bottom here and the 125 provides quite a nice buffer and great R:R from a valuation and technical point.
Tying up $700k plus in equity for 8k in premium.
Pains me to say but $PYPL fundamental story is not as bright as Iโd hope. It seems @acce and management keep using macro as an excuse year after year while other companies are growing at a much rapid pace.
Fun day.
Started the day with 66.94 average and was able to play the dips and bounces to effectively reduce my average to 61.68.
Took about 10k in total losses but small price to pay for where Iโm taking this position.
Back at a million plus in this position, have powder for 60s.
$PYPL
@SilentC52 Nothing I went heavy on this dip opportunity to lower my average. Now hold 1 million at a much lower average with still another million for powder if any further dips.